The eyewear manufacturer's sales stood at €1.025 billion last year, down 2.3 percent at constant exchange rates.

However, sales performance organically and net of the business in the former GrandVision chains was +1.7%, the Italian company points out.

Adjusted Ebitda margin was at 9% from 9.4%, adjusted gross industrial margin at 58.7% from 55.5%.

Adjusted gross industrial profit was 601.8 million euros, up 0.7% on 2022.

"In a complex year such as 2023... it was particularly important for us to achieve a revenue level very close to the excellent sales result recorded in 2022, when growth compared to 2019 pre-pandemic was 12 percent," CEO Angelo Trocchia commented in the note.

Sales, at constant exchange rates, decreased 6.4 percent in North America and 0.6 percent in Europe, while they increased 9.1 percent in the Asia-Pacific region.

"Above all, the past year was the year in which the Group returned to positive cash generation, the first in many years," the statement said.

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(Antonella Cinelli, editing Sabina Suzzi)